China’s trade activity slowed for a second month, with export growth in August falling to 7% from 11%, and lagging economists’ expectations of 9%. The timing is inauspicious in coming just ahead of the five yearly Party conference due on October 18. The slowdown has been led by Japan, which contracted for a 15th straight month on a quarterly basis in dollars, while shipments to the EU grew by 5% in the month, down from 10%. Exports from China to the U.S. climbed 8% to the highest on record, making for continued political problems. They are set to rise further, with September typically hi...